Hello Everyone:
I have finished importing my financial data from my brokerage (Schwab) and prior to completing my 2020 Tax Return, I decided to print a DRAFT pdf of my tax return for proof reading. I see that Form 8949 Part 1 is not present. The imported information from Schwab is correctly populated and I have over 100 Short Term Gains & Losses that amount to a small net gain. Nonetheless, when printing the DRAFT, Form 8949 Part 1 does not generate in my DRAFT. Please note that Form 8949 Part 2 does generate and is accurate. Is this a software glitch?? Would someone be able to help?
I appreciate any suggestions/advice.
Are the total proceeds, cost, and gain for the short-term sales shown on line 1a of Schedule D? If so, Form 8949 is not used for those sales.
Are you using TurboTax Online or the CD/Download TurboTax software?
Where do you see the imported short-term sales "populated" if they are not on Form 8949?
Thank you rjs!
Yes, the total proceeds, cost, and gain for the short-term sales are shown on line 1a of Schedule D !!
In answer to your second question, I am using TurboTax Download.
In answer to your third question, ...the "populated" data was contained in the TurboTax program itself when I chose to "Edit" and therefore review the data entries. This myriad of Short Term Gain/Loss data did not appear as a lengthy "worksheet" (for lack of a better term?) as it did on my previous TurboTax 2019 Form 8949 Part 1 last year. Thus my concerns were aroused.
I do believe you have answered my question if I understand correctly and consequently I am most appreciative! Thank you Champ!